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Introduction to Registering a Foreign Entity in Singapore Registering a foreign entity in Singapore is a strategic move for many international businesses. Singapore’s business-friendly environment, robust legal framework, and favorable tax regime make it an attractive destination for foreign enterprises. This guide will walk you through the essential steps and legal requirements for registering a … Read more

Understanding Business Costs Operating a business in Singapore is often associated with high costs. The city-state is known for its robust economy, strategic location, and business-friendly environment. However, the operational costs can be daunting for many businesses. From rental expenses to labor costs, understanding these financial burdens is crucial for effective management and sustainability. According … Read more

Understanding Singapore’s Tax System Singapore is renowned for its business-friendly tax regime, which is one of the most competitive in the world. The country’s tax system is territorial, meaning that taxes are levied on income earned within Singapore. Corporate income tax is one of the key components, with a flat rate of 17% as per … Read more

Guide to Hiring a Tax Professional in Singapore Understanding Singapore Tax Laws Hiring a tax professional in Singapore requires a solid understanding of the local tax laws. Singapore operates on a territorial tax system, which means that tax is only levied on income that is earned in Singapore or remitted into Singapore. According to the … Read more

Accounting Audit Requirements in Singapore Understanding Audit Basics In Singapore, the accounting audit requirements are governed by the Companies Act (Cap. 50). The intricacies of this act are designed to ensure that companies maintain transparent and accurate financial records. An audit is essentially an independent examination of financial information of any entity, whether profit-oriented or … Read more

Year-End Accounting Closure Guide in Singapore Understanding Year-End Closure The year-end accounting closure is a critical process for businesses in Singapore, ensuring that all financial records are accurate and up-to-date. It involves reconciling accounts, evaluating financial statements, and preparing for the next fiscal year. According to the Singapore Companies Act, all companies must maintain proper … Read more

How to File Corporate Tax in Singapore Understanding Corporate Tax In Singapore, the corporate tax regime is both efficient and business-friendly, which has contributed to its reputation as a global business hub. The statutory corporate income tax rate is a flat 17%, making it one of the most competitive rates in the Asia-Pacific region. The … Read more

Tax Deduction Items in Singapore Understanding Tax Deductions Navigating the world of taxes can often seem like an intimidating maze, especially when it comes to understanding the various deductions available to taxpayers. In Singapore, tax deductions allow individuals and businesses to reduce their taxable income, thereby lowering the amount of tax they owe. According to … Read more

Understanding Singapore’s Business Income Tax Singapore is renowned for its pro-business environment, and a pivotal aspect of this reputation is its competitive corporate tax regime. The standard corporate tax rate in Singapore is 17%, which is one of the lowest in the world. This low rate is designed to attract foreign investments and boost the … Read more

Guide to Calculating Corporate Tax in Singapore Understanding Corporate Tax Singapore is renowned for its attractive corporate tax regime, which plays a pivotal role in its status as a global financial hub. The corporate tax rate in Singapore is a flat 17%, making it one of the lowest in the world. This flat rate, under … Read more